Huntington National Bank Trims Holdings in Lululemon Athletica Inc. (NASDAQ:LULU)

Huntington National Bank reduced its stake in shares of Lululemon Athletica Inc. (NASDAQ:LULU) by 37.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,316 shares of the apparel retailer’s stock after selling 1,966 shares during the quarter. Huntington National Bank’s holdings in Lululemon Athletica were worth $900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC grew its stake in Lululemon Athletica by 78.2% in the 2nd quarter. Larson Financial Group LLC now owns 98 shares of the apparel retailer’s stock worth $29,000 after acquiring an additional 43 shares in the last quarter. Paladin Wealth LLC purchased a new position in Lululemon Athletica during the 3rd quarter worth $29,000. Versant Capital Management Inc raised its position in Lululemon Athletica by 61.5% during the 2nd quarter. Versant Capital Management Inc now owns 105 shares of the apparel retailer’s stock valued at $31,000 after purchasing an additional 40 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Lululemon Athletica by 127.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 116 shares of the apparel retailer’s stock worth $31,000 after buying an additional 65 shares during the period. Finally, Ridgewood Investments LLC bought a new position in shares of Lululemon Athletica during the 2nd quarter worth $33,000. 85.20% of the stock is currently owned by institutional investors.

Lululemon Athletica Price Performance

LULU stock opened at $320.01 on Friday. The company has a market capitalization of $39.29 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.39 and a beta of 1.24. Lululemon Athletica Inc. has a 12 month low of $226.01 and a 12 month high of $516.39. The firm’s fifty day simple moving average is $285.03 and its 200-day simple moving average is $290.70.

Lululemon Athletica (NASDAQ:LULU) last posted its quarterly earnings results on Thursday, August 29th. The apparel retailer reported $3.15 EPS for the quarter, beating the consensus estimate of $2.93 by $0.22. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.41 billion. Lululemon Athletica had a net margin of 16.34% and a return on equity of 42.59%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.68 earnings per share. As a group, sell-side analysts forecast that Lululemon Athletica Inc. will post 14.02 earnings per share for the current year.

Insider Activity at Lululemon Athletica

In other news, CEO Calvin Mcdonald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $260.00 per share, for a total transaction of $1,040,000.00. Following the completion of the transaction, the chief executive officer now owns 89,922 shares in the company, valued at $23,379,720. This represents a 4.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicole Neuburger sold 486 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $269.59, for a total transaction of $131,020.74. Following the completion of the transaction, the insider now owns 6,198 shares of the company’s stock, valued at approximately $1,670,918.82. This trade represents a 7.27 % decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LULU shares. Bank of America lowered their price objective on shares of Lululemon Athletica from $440.00 to $355.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Jefferies Financial Group reissued an “underperform” rating and set a $220.00 price objective on shares of Lululemon Athletica in a report on Thursday, July 25th. Truist Financial upped their target price on Lululemon Athletica from $310.00 to $360.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group downgraded Lululemon Athletica from a “buy” rating to a “neutral” rating and cut their price target for the company from $463.00 to $286.00 in a report on Friday, August 2nd. Finally, Barclays reduced their price target on Lululemon Athletica from $263.00 to $261.00 and set an “equal weight” rating for the company in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $357.13.

Lululemon Athletica Profile

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.